Forbidden coins captivate collectors with their rarity, hidden stories, and the thrill of acquiring something deemed off-limits. From government-mandated destruction to international political sanctions, these coins carry the allure of historical intrigue and legal controversy. Here are five of the most desirable forbidden coins and the stories that fuel their mystique.
1. 1933 Saint-Gaudens Double Eagle
Why It’s Forbidden: Minted during the Great Depression, the 1933 Saint-Gaudens Double Eagle was initially struck but never officially circulated due to President Roosevelt’s decision to remove the U.S. from the gold standard. Most of the 445,500 coins were melted down to stabilize the economy, and the U.S. government deems the few remaining specimens stolen property, making their private ownership illegal. Only one coin, sold for $7.59 million in 2002, is legally owned by a private collector.
The Untold Story: The tale of the 1933 Double Eagle includes smuggling, a secret coin hoard, and a decades-long legal battle between the U.S. government and a family who inherited the coins. The coin’s forbidden status, international intrigue, and court rulings have only heightened its legendary appeal among collectors.
2. 1974 Aluminum Penny
Why It’s Forbidden: In 1974, the U.S. Mint experimented with aluminum pennies to reduce the cost of coin production. Approximately 1.5 million were struck, but the project was scrapped, and nearly all coins were destroyed. Any that remain are considered government property and are illegal to own. In 2014, the U.S. government reclaimed an aluminum penny that resurfaced, reinforcing its forbidden status.
The Untold Story: Rumors circulate about congressmen keeping aluminum pennies as souvenirs or employees taking them home, adding to the coin’s mystery. These “missing” aluminum pennies fascinate collectors, who view them as tantalizing forbidden treasures in U.S. numismatic history.
3. 1964-D Peace Dollar
Why It’s Forbidden: The 1964-D Peace Dollar was intended to be the last silver dollar minted in the U.S. Over 316,000 were struck, but before they could be released, they were ordered to be melted down. The Treasury claimed all specimens were destroyed, but rumors persist that a few coins managed to escape. If any exist, the U.S. government considers them illegal to own.
The Untold Story: Stories of the 1964-D Peace Dollar surviving destruction have become legendary among collectors. Occasional claims of these coins appearing in private collections stoke debates and speculation, but no specimens have been publicly verified, leaving its status as an elusive forbidden coin intact.
4. 1973 Krugerrand Ban
Why It’s Forbidden: The South African Krugerrand, introduced in 1967, became controversial in the 1970s and 1980s due to its association with apartheid South Africa. Many countries, including the U.S., banned Krugerrands in protest, making their possession and trade illegal. Although the U.S. lifted the ban in the 1990s, the Krugerrand remains politically and symbolically charged.
The Untold Story: During the ban, Krugerrands became symbols of protest and solidarity with South Africa’s anti-apartheid movement, sparking a black market for the coins. Owning a Krugerrand from this era carries both historical and social weight, making these coins uniquely intriguing to collectors.
5. Ancient Roman Coins
Why They’re Forbidden: Ancient Roman coins are prized by collectors, but many originate from illegal excavations at protected archaeological sites in countries like Italy and Greece. Strict laws designate these artifacts as state property, and looted coins smuggled out of these regions are considered illicit. Governments often seize and repatriate such coins, making them risky acquisitions.
The Untold Story: The underground market for ancient coins is a global issue, with collectors and archaeologists clashing over ownership rights. These coins symbolize the tension between preserving cultural heritage and the centuries-old practice of coin trading, drawing collectors willing to risk legal repercussions.
Forbidden coins hold a special allure due to the thrill and controversy they carry, representing a fascinating intersection of history, legality, and the darker side of numismatics. For those willing to navigate the risks, these coins embody the ultimate prize in the collector’s journey.
FAQs
Why is the 1933 Double Eagle illegal?
It was recalled and destroyed, with private ownership deemed illegal.
How did aluminum pennies become forbidden?
The 1974 test pennies were recalled and destroyed by the U.S. Mint.
Are 1964-D Peace Dollars still illegal to own?
Yes, the U.S. government considers any surviving coins illegal.
Why were Krugerrands banned?
The Krugerrand symbolized apartheid-era South Africa and was banned in protest.
What risks come with ancient Roman coins?
Coins from protected sites can be seized as state property and are illegal to own.
